Michael Lewis, CEO of German energy giant Uniper, told Reuters that additional purchases of US LNG from the European Union would ease global natural gas market tightness and reduce prices for German consumers and industries. Lewis stated that increased US LNG exports to Europe would lower global gas prices, benefiting German households and businesses. This follows President Trump's recent urging of the EU to buy more American oil and gas to avoid tariffs.
Additional purchases of U.S. LNG from the European Union would help ease the tightness in global natural gas markets and reduce consumer and industry prices in Germany, Michael Lewis, chief executive at German energy giant Uniper, told Reuters on Wednesday. Earlier this week, U.S. President Donald Trump urged the EU, again, to buy more American oil and gas to avoid tariffs. “When Trump sends more gas to Europe it will reduce the world gas price,” Uniper’s Lewis told Reuters.
So far this month, at least six LNG cargoes loaded in the United States and initially en route to Asia have been diverted to Europe as European natural gas prices have rallied in recent weeks while Asian prices drop with weaker demand and high inventories. Asian spot LNG prices have risen in the winter period, but not enough to keep a wide enough premium to Europe’s benchmark prices to incentivize selling U.S. cargoes to Asia, according to shipping data and analysts.
NATURAL GAS LNG ENERGY MARKETS TARIFFS TRUMP ADMINISTRATION
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